GE's latest earnings are a last-chance showing for its CEO

Operating cash flow from GE's continuing industrial operations, adjusted to exclude deal taxes and pension plan funding, rose from $65 million to $1.47 billion year over year in the quarter.

Flannery, a GE veteran, has said he will make cash flow a focus when he takes the helm on August 1.

Today's selloff would mark the eighth straight quarter that GE shares declined on the day earnings results were reported. "People's openness to rethinking things or thinking about things differently or challenging many things we've taken for granted is encouraged, and people get excited about that".

Analysts are doubtful that GE will reach a long-held goal of delivering $2 a share in profit in 2018, but the company said an updated target wouldn't come until after Mr. Flannery's review.

While GE is the world's 14th-largest company, according to Forbes magazine, its shares have dropped 20% over the past 12 months to $25.98 as oil-equipment sales were curbed by lower crude prices and a government debate over possible cuts to Obamacare hampered purchases of health-care equipment.

In the past month, Flannery has begun a "series of deep dives into each of the businesses, looking at everything you would expect", he said Friday. It raised the low end of its full-year EPS target, moving from $6.90-$7.10 to $7-$7.10, lifting the midpoint by 5 cents.

In last year's second quarter.

Revenue fell 12% to $29.56 billion. Cash flow from operations totaled $3.6-billion, up from $400-million in the first quarter.

Net profit slumped 59 per cent to $1.34-billion, or 15 cents a share, in the quarter ended June 30, from $3.30-billion, or 36 cents a share, a year earlier.

The firm's profits actually fell less than what analysts had forecast, with earnings per share coming in at 28 cents, against the 25 cents estimated.

Related Articles

Tel Aviv argues that the security upgrades will prevent weapons from being brought to the Temple Mount as referred to by Jews. The compound site is holy to both Muslims, who revered it as the Noble Sanctuary, and Jews, who know it as the Temple Mount.

Economists surveyed by Bloomberg had expected a 3.9% rise in the CPI, which includes volatile food and fuel prices. The spike in inflation over the past year has caused concern among some rate-setters at the Bank of England.

The company's stock has lost almost 95 percent of its value in the past decade, from a peak of $195.18 a share in 2007. The announcement Thursday sent shares of Sears soaring more than 18 per cent at the opening bell.

All you need is the mobile number registered with your Aadhaar card and a smartphone running on Android 5.0 and upper versions. The mAadhaar app is now in the beta stage and will be adding up a number of the features in the future.

Additionally, he took two weeks off before the Open after playing six out of the seven previous weeks. There were no bombs here, the longest putt made just inside 20 feet. "He was putting beautifully".

Tillerson, who has deep ties to Russian Federation and received an Order of Friendship from Moscow, left the firm to become U.S. Rosneft itself is subject to narrower US sanctions that still allow Americans to deal with the company on some transactions.

Daimler anticipates that demand for mid-sized trucks will grow by 43 per cent over the next decade to around 3.2 million units. Customers can choose between a rear-wheel or all-wheel-drive and a six speed manual or a seven speed automatic transmission.

During the telephonic conversation, Bhatt also raised the issue of continuous ceasefire violations by Pakistani forces. According to ANI, Rifleman Jayadrath Singh has lost his life in unprovoked ceasefire violation by Pakistan.

Ankara rejects complaints about the jailing of German Peter Steudtner and five other activists accused of links to terror groups. Schaefer also mentioned the ongoing detention of German reporter Mesale Tolu, who has been in Turkish custody since April.

Unfavorable weather conditions , ample fuel and steep terrain are hampering firefighting efforts, according to Cal Fire . He said the flames appeared to have been stopped about a mile from his residence, and he praised firefighters' work.

Deputy AG Rosenstein Stands by Decision to Fire Comey
Rosenstein also assured the Fox News host that the Department of Justice would take care of it if any conflicts of interest arose. But days later, Trump admitted in an interview with NBC News that he would have fired Comey regardless of any recommendation.

OJ Simpson Granted Parole In Robbery
It will be interesting to see what Simpson says to the Board about his time in prison. "He's my best friend, my only friend". Simpson parole as soon as he's eligible - meaning he will be freed from a Nevada prison as soon as October.

USA seeks targeted commitments from China on market access
The tough talk seemed like a return to Trump's message during his campaign, when he attacked Beijing for unfair trade practices. He said, for example, that China puts greater restrictions on inbound investment than the United States does.